Table 4.—Comparison of personal income in the National Income and Product Accounts with Adjusted Gross Income , for specified tax years, 1980-2002

Statistics of Income Bulletin, Fall, 2004

Table 4.--Comparison of Personal Income in the National Income and
Product Accounts (NIPA) with Adjusted Gross Income (AGI), for
Specified Tax Years, 1980-2002

[All figures are estimates--money amounts are in billions of dollars]

Income and adjustment items                          1980       1985

                                                      (1)        (2)

Personal income (per NIPA) (1)                      2,307.9    3,526.7
Less: Portion of personal income not included in
  AGI                                                 663.8    1,248.2
    Nontaxable transfer payments                      276.6      401.9
    Employer contributions to employee pension
      and insurance funds                             185.2      281.5
    Imputed income (2)                                 48.0       84.9
    Investment income of life insurance carriers
      and pension plans                                80.0      204.2
    Investment income received by nonprofit
      institutions or retained by fiduciaries          19.7       37.5
    Net differences in accounting treatment
      (NIPA vs. IRS)                                   10.6       83.4
    Other excluded or tax-exempt income                43.6      154.8
Plus: Portion of AGI not included in personal
  income                                              186.3      353.1
    Personal contributions for social insurance        77.2      133.6
    Net gain from the sale of assets                   29.7       69.8
    Taxable pensions                                   68.2      145.0
    Small business corporation income                   0.7        6.3
    Other types of income                              10.4       -1.7
Equals: BEA-derived adjusted gross income           1,830.3    2,631.6
Adjusted gross income, IRS                          1,613.7    2,306.0
Adjusted gross income (AGI) gap (3)                   216.6      325.6
  AGI gap as a percentage of
    BEA-derived AGI                                    11.8       12.4
  AGI of IRS as a percentage of
    BEA-derived AGI                                    88.2       87.6

Income and adjustment items                          1990       1995

                                                      (3)        (4)

Personal income (per NIPA) (1)                      4,878.6    6,152.3
Less: Portion of personal income not included in
  AGI                                               1,669.9    2,234.2
    Nontaxable transfer payments                      551.2      797.5
    Employer contributions to employee pension
      and insurance funds                             377.8      493.6
    Imputed income (2)                                114.1      186.7
    Investment income of life insurance carriers
      and pension plans                               304.2      369.1
    Investment income received by nonprofit
      institutions or retained by fiduciaries          51.6       60.0
    Net differences in accounting treatment
      (NIPA vs. IRS)                                  110.4       83.8
    Other excluded or tax-exempt income               160.6      243.4
Plus: Portion of AGI not included in personal
  income                                              589.7      841.7
    Personal contributions for social insurance       203.7      268.8
    Net gain from the sale of assets                  115.7      167.4
    Taxable pensions                                  215.9      293.2
    Small business corporation income                  36.4       79.2
    Other types of income                              18.1       33.2
Equals: BEA-derived adjusted gross income           3,798.4    4,759.8
Adjusted gross income, IRS                          3,405.4    4,189.4
Adjusted gross income (AGI) gap (3)                   393.0      570.4
  AGI gap as a percentage of
    BEA-derived AGI                                    10.3       12.0
  AGI of IRS as a percentage of
    BEA-derived AGI                                    89.7       88.0

                                                       2000      2001
Income and adjustment items                                      [r]

                                                       (5)       (6)

Personal income (per NIPA) (1)                       8,429.7    8,724.1
Less: Portion of personal income not included in
  AGI                                                2,971.3    3,108.3
    Nontaxable transfer payments                       962.0    1,056.0
    Employer contributions to employee pension
      and insurance funds                              609.9      642.7
    Imputed income (2)                                 265.8      294.0
    Investment income of life insurance carriers
      and pension plans                                497.3      445.5
    Investment income received by nonprofit
      institutions or retained by fiduciaries           75.6       70.6
    Net differences in accounting treatment
      (NIPA vs. IRS)                                   159.4      176.8
    Other excluded or tax-exempt income                401.4      422.7
Plus: Portion of AGI not included in personal
  income                                             1,667.1    1,389.2
    Personal contributions for social insurance        359.2      374.5
    Net gain from the sale of assets                   645.4      324.6
    Taxable pensions                                   414.2      435.8
    Small business corporation income                  128.2      130.6
    Other types of income                              120.0      123.6
Equals: BEA-derived adjusted gross income            7,125.4    7,005.0
Adjusted gross income, IRS                           6,365.4    6,170.6
Adjusted gross income (AGI) gap (3)                    760.1      834.4
  AGI gap as a percentage of
    BEA-derived AGI                                     10.7       11.9
  AGI of IRS as a percentage of
    BEA-derived AGI                                     89.3       88.1

Income and adjustment items                         2002 [r]

                                                      (7)

Personal income (per NIPA) (1)                      8,878.9
Less: Portion of personal income not included in
  AGI                                               3,240.2
    Nontaxable transfer payments                    1,123.0
    Employer contributions to employee pension
      and insurance funds                             729.6
    Imputed income (2)                                316.8
    Investment income of life insurance carriers
      and pension plans                               407.1
    Investment income received by nonprofit
      institutions or retained by fiduciaries          65.6
    Net differences in accounting treatment
      (NIPA vs. IRS)                                  153.2
    Other excluded or tax-exempt income               444.8
Plus: Portion of AGI not included in personal
  income                                            1,356.0
    Personal contributions for social insurance       384.7
    Net gain from the sale of assets                  236.4
    Taxable pensions                                  465.6
    Small business corporation income                 153.3
    Other types of income                             116.0
Equals: BEA-derived adjusted gross income           6,994.6
Adjusted gross income, IRS                          6,033.6
Adjusted gross income (AGI) gap (3)                   961.1
  AGI gap as a percentage of
    BEA-derived AGI                                    13.7
  AGI of IRS as a percentage of
    BEA-derived AGI                                    86.3